…to sanction PoS agents over exorbitant charges
Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN) has insisted that there is no going back on the February 10, 2023 deadline for the swapping of naira notes.
Emefiele said this on Tuesday during a meeting with members of the diplomatic corps in Abuja.
According to him,Feb. 10 deadline remains sacrosanct.
He acknowledged the inconveniences caused by the naira redesign policy including hoarding and an elevated agitation but called on Nigerians, especially those in authority, not to exaggerate it so as not to create panic.
Acknowledging that the transition to embracing the new naira notes may be challenging, the CBN boss reiterated that the benefits are enormous and will lead to a cashless policy.
“The situation is substantially calming down since the commencement of over-the-counter payments to complement ATM disbursements and the use of super-agents.
“There is, therefore, no need to consider any shift from the deadline of February 10,” he said
He also told members of the corps how the nation’s economy is faring but shared concerns about increasing inflation which he attributed to insecurity, elections spending, and the effect of the global market on the economy.
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According to him, the nation’s growth rate is at 3.6 percent for 2023, noting that the economy will experience what he called subdued growth owing to the scarcity of petroleum products, increased spending which is being curtailed, and increasing debt levels.
The apex bank boss also said that Point-of-Sale agents, who charge above N200 for cash swaps will be arrested and jailed when caught.